Property Tax Assessment Time: Painful but Grateful

It’s that time of year again.  The time of year we receive our city property tax assessment values in the mail.  If you think the value of your home is assessed too low….you ARE alone this year!  For 2015, there is a $45,000 increase in the value of single residential homes to a record $475,000 in Calgary.  It will hurt come June when the new, increased property tax bills come due.  Some of you might be lucky and have little change to that actual dollar amount of property taxes you owe.  Others might want to book a review with the city assessors.  If you think the value the city has placed on your home is too high, you need to book a review by March 4th, 2015.  Here is the link for you:  bit.ly/1xvnn6y

It might be worth the time to save potentially hundreds of dollars in taxes!

Yes, I am not feeling great about the large increase in value, and in turn, increase in property tax this year.  However, I also think of how lucky we are to live in one of the best cities in the world (not just country).  I also think of how lucky we are to have the equity in our homes increasing and not decreasing.  I also think of how lucky we are to have some of the lowest taxes in the county.  Yes that’s right people of Calgary….we actually pay some of the lowest taxes in all of Canada for our property values.  Perspective: We might not like to open our wallets wider this June, but let’s be grateful. 

Enjoy 2015!

William Charlton